How often are the Credit Ratings updated?
The Risk rating is calculated daily, this is an automatic process carried out by the system, which takes feeds from our databases to update scores on a real time basis. If a company submits its latest accounts to Companies House, then as soon as these are available to the public (usually 10 working days later) the documents will be analysed within 48 hours and updated on the database. As soon as this is completed the company’s credit risk rating will be recorded/adjusted based on the latest filed accounts. The system also continually incorporates the following time critical information, which updates the credit scores on a real time basis:
- Companies house Gazette
- London, Edinburgh & Belfast Gazette
- CCJ & High Court Writ data
What type of changes result in the report being updated?
- Analysed Accounts
- Filing History or Directory Data
- Filed Accounts Dates
- Accounts Reference Date
- Passage of time, special request, model change, industry averages change
How long after document filing is the report updated?
Most changes will be factored into the score/limit within less than 24 hours of receipt, unless the filed information is the accounts, in which case the figures must be analysed first. Financial analysis usually takes place within 48 hours of the Accounts being released by Companies House. This can vary depending on the time of year.
Can I be notified of these changes?
Yes. Our free monitoring service Company Monitor. All you need is a valid email address and you can monitor an unlimited number of companies for change. We can alert you for all or some of the changes listed above. For more information please see Company Monitor.